Consider resolution granting approval to the issuance of up to $7.5 million in Tax Exempt Multi-Family Housing Entitlement Revenue Bonds to finance the acquisition & construction of a 44-unit multifamily rental housing facility for low and moderate income persons and families.

a) Accept and appropriate LCDA grants of $1,000,000 for the Commons at Penn Project, $1,000,000 for the Hawthorne Eco Village project, & $750,000 for the Mozaic Phase II project; accept and appropriate LCDA-TOD grants of $1,000,000 to the 4th Street Infrastructure/Boeser project, and $1,045,000 to the Anishinabe Bii Gii Wiin project;

b) Approve budget appropriation increase of $4,795,000;

c) Authorize such agreements as may be necessary or desirable to implement the LCDA and LCDA-TOD grants with the Metropolitan Council, Building Blocks Non Profit, Project for Pride in Living, Ackerberg Group, and Cornerstone Group (or affiliated entities) (Also in W&M).

Action Taken: Approved, with the following recommendation: Although Section 422.190 of the Minneapolis Code of Ordinances does not apply to the proposed project, because the City will not retain a proprietary interest in the project, the City strongly encourages Ryan Companies’ hotel operator to negotiate a labor peace agreement with the applicable labor organization(s) in the spirit of Section 422.190.

15. Small Business Revolving Loan Programs:

a) Receive & file the 2013 year-end loan portfolio report for the Business Development Loan Programs;

b) Authorize staff to write-off of a 2% loan made to Kuu Ruay LLC d/b/a Koyi Sushi Too as uncollectable.

a) Subject matter of ordinances amending Title 13 of the Minneapolis Code of Ordinances relating to Licenses and Business Regulations, providing for recognition and regulation of Peer-to-Peer Network Company Transportation Services (by Frey):

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Last updated Mar 19, 2014

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